Personal Finance

The information contained in this site is general in nature and should not

be acted upon without further details and/or professional assistance.

According to Wikipedia, personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. Components of personal finance might include checking and savings accounts, credit cards and consumer loans, investments in the stock market, retirement plans, social security benefits, insurance policies, and income tax management.  http://en.wikipedia.org/wiki/Personal_finance

Being in control of your financial situation is extremely important in today’s economy.  Creating and maintaining a monthly budget is a great way to manage your finances.  A budget is not only useful for keeping track of your monthly income and expenses, but also when contemplating purchases.  

Creating a budget is as easy as gathering your monthly bills and paycheck stubs.  A very important item to consider when preparing your budget is to never include additional pay, such as overtime, commissions, or bonuses in your income calculation.  Don’t forget to include items such as food, fuel, daycare, entertainment, etc. in your budget. 

Listed below are a few websites with tools that you might find helpful for managing your finances, creating a budget, and planning for the future.  Contact our office if we can be of assistance in the preparation of your budget.